The average price of heavy scrap in 45 major cities nationwide is 2,137 yuan/ton, up 3 yuan/ton compared to the previous trading day.

On March 17, the average price of heavy scrap in 45 major cities across the country was 2,137 yuan/ton, an increase of 3 yuan/ton compared to the previous trading day. Recently, one of the factors affecting scrap steel prices is the rebound in black series futures, with raw material iron ore performing better than finished steel products, driving up the price of steel billets and positively impacting scrap steel prices. Currently, the biggest factors affecting scrap steel prices are the supply and demand relationship of scrap steel and the sales situation of finished steel products. Finished steel sales are in a traditionally weak and off-season period, which is the main factor restricting the upward movement of scrap steel prices. At the same time, the volume of scrap steel arriving at steel mills is still able to meet daily consumption, with steel mill inventories slightly increasing and overall profit levels being poor, on the edge of profitability. Attention needs to be paid to the impact of improved finished product sales on prices. Overall, it is expected that domestic scrap steel prices will remain stable in the short term. (My Steel Network)